Did We Top Out?

{+++} We’ll see what tomorrow brings, but the action in the aftermarket is a little bleak after the reports from MSFT, COF and some others.

We are almost all cash going into tomorrow with a short position remaining in LEAP and and a long position in SNX.

We took a bunch of gains and a small stop or two but overall we did pretty well.

My little nephew Aiden, who was 5, died of complications from leukemia on Tuesday night. The leukemia was treatable but unfortunately he caught swine flu in the hospital and he just wasn’t strong enough to fight it off. I will be driving to Boston tomorrow morning for the wake and funeral with my family and will miss the trading day with you guys.

I feel good that we took profits today and if we sell off hard tomorrow we will look brilliant. I want to move our stop up on SNX to 29 just to be safe. If we rally higher with volume I think it’s safe to say that the market wants to tag or blow through the 1000 level.

I will have the usual evening video on Sunday and if I am able will get out the Weekend Linky Dinks at some point. I will be checking Disqus for comments on the ride up so keep the party going while I am gone, I will be checking in and watching the market. Have a great day tomorrow.

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